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GET Cash Until PAYDAY! . . . $100 OR More . . . Fast. The ads are on the radio, television, the Web, even in the mail. They refer to cash advance loans or a payday loan - which come at a quite high price tag. Check cashers, finance companies and other people are making small, brief-term, high-rate loans that go by a selection of names: payday loans, money advance loans, check advance loans, post-dated check loans or deferred deposit check loans. Generally, a borrower writes a personal check payable to the lender for the quantity he or she wishes to borrow plus a fee. The organization gives the borrower the amount of the check minus the fee. Charges charged for money advance loans or a payday loan are usually a percentage of the face value of the check or a fee charged per amount borrowed - say, for every $50 or $100 loaned. If you extend or roll-over the loan - say for another two weeks - you will spend the charges for each extension. Under the Truth in Lending Act, the cost of payday loans - like other types of credit - must be disclosed. Among other data, you must obtain, in writing, the finance charge (a dollar amount) and the annual percentage rate or APR (the cost of credit on a yearly basis). Loans secured by a private check - such as a payday loan - is really expensive credit. Let's say you write a personal check for $115 to borrow $100 for up to 14 days. The check casher or payday lender agrees to hold the check until your subsequent payday. At that time, based on the specific plan, the lender deposits the check, you redeem the check by paying the $115 in cash, or you roll-over the check by paying a fee to extend the loan for another two weeks. In this example, the cost of the initial loan is a $15 finance charge and 391 percent APR. If you roll-more than the loan three times, the finance charge would climb to $60 to borrow $100.Where to Complain If you think your lender has violated the law, you might wish to get in touch with the lender or loan servicer to register your concerns. analyze fast approval loans